Showing archive for: “Economics”
Stephen Bainbridge on Mandatory Disclosure: A Behavioral Analysis
Mandatory disclosure is a—maybe the—defining characteristic of U.S. securities regulation. Issuers selling securities in a public offering must file a registration statement with the SEC containing detailed disclosures, and thereafter comply with the periodic disclosure regime. Although the New Deal-era Congresses that adopted the securities laws thought mandated disclosure was an essential element of securities ... Stephen Bainbridge on Mandatory Disclosure: A Behavioral Analysis
Sprigman and Buccafusco on Behavioral Law and Economics and the Road from Lab to Law
In our second post, we want to discuss some of the implications of the study (the details of which we described in our first post). One of the consistent concerns about BL&E in this symposium is about the too-quick jump from data to policy. We should emphasize that we think more work needs to be ... Sprigman and Buccafusco on Behavioral Law and Economics and the Road from Lab to Law
Tom Brown on Camel Spotting — Is Behavioral Economics Really Beyond Redemption?
At the outset let me thank our hosts for inviting me to participate in what I have come to think of as Truth On The Markets’ annual symposium on topics of particular interest to me. Last year at roughly this same time, TOTM sponsored a symposium on what many surely regarded as an obscure topic, ... Tom Brown on Camel Spotting — Is Behavioral Economics Really Beyond Redemption?
Kevin McCabe on Behavioral Economics and the Law
Having started my career as an experimental economist I probably have a little different, but I hope complimentary, perspective on behavioral economics and other experimental programs in general. I view the difference between experimental and behavioral economics in terms of (1) what is studied, and (2) how it is studied. Experimental economists are interested in institutional and ... Kevin McCabe on Behavioral Economics and the Law
Claire Hill on The Promise of Behavioral Law and Economics
I want to challenge what seems to be a premise of this symposium: that much of the behavioral “contribution” to economics is about people’s “mistakes” (either cognitive mistakes or “weakness of the will”) and the consequent need for paternalistic intervention. I think the behavioral perspective has much more to offer; I also think that the ... Claire Hill on The Promise of Behavioral Law and Economics
Free to Choose: Day 1 Wrapup
I’ve compiled links to the excellent posts from day 1 in here, or you can go to the Free to Choose Symposium tab at the top of the blog. Tomorrow’s lineup should be more of the same, including posts from Claire Hill, Erin O’Hara, Todd Henderson, Tom Brown, Kevin McCabe, Steve Bainbridge, Christopher Sprigman & ... Free to Choose: Day 1 Wrapup
Richard Epstein on The Dangerous Allure of Behavioral Economics: The Relationship between Physical and Financial Products
Richard A. Epstein is the Laurence A. Tisch Professor of Law, New York University School of Law, The Peter and Kirsten Bedford Senior Fellow, The Hoover Institution, and the James Parker Hall Distinguished Service Professor of Law, The University of Chicago. Few academic publications have had as much direct public influence on the law as ... Richard Epstein on The Dangerous Allure of Behavioral Economics: The Relationship between Physical and Financial Products
Ronald Mann on Nudging from Debt
The idea that the regularity of behavioral departures from full rationality justifies regulatory intervention has rarely gained more credence than in the context of consumer finance. The Credit CARD Act of 2009 rests on nothing so much as the supposition that cardholder decisions about spending and repayment reflect systematic misapprehension of the likely patterns of ... Ronald Mann on Nudging from Debt
Judd Stone on Misbehavioral Economics: The Misguided Imposition of Behavioral Economics on Antitrust
Behavioral law and economics has arisen to international prominence; between Cass Sunstein’s appointment to head the Office of Information and Regulatory Affairs the United Kingdom’s appointment of a “nudge” bureau, behavioralism has enjoyed a meteoric impact on policymakers. Thus far, behavioral economists have almost exclusively focused on the myriad foibles or purported cognitive errors which ... Judd Stone on Misbehavioral Economics: The Misguided Imposition of Behavioral Economics on Antitrust
Sprigman and Buccafusco on Valuing Intellectual Property
We would like to start by thanking Josh for inviting us to participate in what promises to be a fascinating discussion on an important subject. We’re looking forward to engaging with the other members of the symposium. To begin with, we would like to talk about some of our own experimental research on the valuation ... Sprigman and Buccafusco on Valuing Intellectual Property
Thom Lambert on Behavioral Law and Economics and the Conflicting Quirks Problem: A “Realist” Critique
Thom Lambert is Associate Professor of Law at the University of Missouri Behavioralism is mesmerizing. Ever since I took Cass Sunstein’s outstanding Elements of the Law course as a 1L at the University of Chicago Law School, I’ve been fascinated by studies purporting to show how humans are systematically irrational. It is, of course, the “systematic” part that’s ... Thom Lambert on Behavioral Law and Economics and the Conflicting Quirks Problem: A “Realist” Critique
Geoffrey Manne on Interesting doesn’t necessarily mean policy relevant
Geoffrey A. Manne is Executive Director of the International Center for Law & Economics and Lecturer in Law at Lewis & Clark Law School The problem with behavioral law and economics (and its behavioral economics cousin) is not that it has nothing interesting to say, but rather that the interesting things it has to say ... Geoffrey Manne on Interesting doesn’t necessarily mean policy relevant
